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Closed-ended fund overhauls strategy
Thursday 19 Jan 2017 Author: Tom Sieber

Investment trust Alliance Trust (ATST) is revolutionising its investment strategy. The board has named eight external equity managers who will select a portfolio of 20 high conviction stocks. The performance target has been doubled to 2 percentage points above the MSCI World Index net of costs on a three-year rolling period. Costs are set to rise from 0.45% a year to nearly 0.6%. (TS)

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